How Many Jobs are Available in Capital Goods? Currently, there are about 1.3 million jobs in Capital Goods, making it one of the biggest employers of labor in the world. The capital goods industry is one of the three major industries in the world that contribute to economic growth and development.
In this article, we will look at capital goods, the available jobs in capital Goods, requirements to get into capital goods, and other information you may need to build a successful career in capital goods.
What Is Capital Goods?
The Capital Goods sector of the economy is one of the largest, if not the largest, contributors to job creation in the U.S. economy.
The Capital Goods sector includes companies that manufacture computers, construction equipment, and medical devices. The companies range from those with hundreds of employees to those with tens of thousands.
The Capital Goods sector is continuously expanding and encompassing aspects of technology related to manufacturing and specialization, such as robotics and AI automated machines.
Is a Career in Capital Goods Rewarding?
A career in the capital goods field can be rewarding for those who appreciate and are passionate about working with their hands or enjoy problem-solving and planning.
Also, the capital Good sector is wide, allowing you to explore various positions and fields. Employees in capital goods have a good compensation plan that includes their salary.
What Are The Requirements to Get a Job In Capital Goods Field?
You need to have the desired specialized academic degree (Bachelor’s or/and Master’s) from a related field of study such as engineering, financial management, computer science, data analysis, design engineering, and so on.
Also, experience is another requirement to get into the Capital Goods sector. However, it is unnecessary but can help you gain an edge over other applicants.
Lastly, you need to be computer literate or have the ability to operate certain machinery; although not compulsory, this gives you a hedge over other applicants.
How Many Jobs are Available in Capital Goods?
The capital goods sector is a highly diverse sector that covers a range of sectors, including engineering and construction, IT, telecoms, transport, and logistics. The sector has many job opportunities for people to pursue their career goals.
The capital goods sector offers jobs in different fields – from supply chain management to logistics and support services. There are also career opportunities in sales and marketing, product development, manufacturing, and engineering.
Highest Paying Jobs In Capital Goods Field
1. Mechanical Engineers
Mechanical engineers design tools, engines, machines, and other mechanical devices. They design and develop products such as industrial machinery and equipment, engines, turbines, and refrigeration equipment. They also provide maintenance services for these products.
They work with other engineers to develop new products or improve existing ones. Mechanical engineers typically earn bachelor’s degrees in mechanical engineering or a related field, such as industrial engineering or electrical engineering.
2. Electrical Engineers
Electrical engineers design tools and equipment that use electricity, like computers or mobile phones. They design circuitry for control panels and operate power distribution systems. They may also maintain or repair electrical equipment or machines such as motors or generators.
They also develop new ways to generate, distribute, or store electricity. Electrical engineers typically receive bachelor’s degrees in electrical engineering or a similar field, such as computer engineering or electronics engineering. Some positions may require graduate study at an accredited university (or university-level school).
3. Computer Hardware Engineers
Computer hardware engineers design computer components such as hard drives and CPUs (central processing units).
4. Accounting Manager
An accounting manager is responsible for planning, directing, and controlling accounting functions within an organization. They develop policies and procedures that help management make decisions regarding financial matters such as budgeting and accounting standards.
The accountant must stay up-to-date on new laws that affect businesses so they can advise management about how these laws might impact their business operations.
5. Financial Analyst
A financial analyst works with a company’s financial information to help them make better decisions about how much money they should spend on different areas of their business, such as marketing and research & development (R&D).
Financial analysts may also suggest ways to improve efficiency within a company, such as reducing spending on nonessential items like office supplies or replacing old equipment.
6. Business Analyst
Business analysts are responsible for analyzing information, creating reports, and drawing up organizational strategies. They usually have a background in business studies or economics.
7. Data Analyst
Data analysts use various information to identify trends and recommend how businesses can improve their performance. They usually have qualifications in data science or computing.
8. Financial Consultant
Financial consultants advise businesses on how to manage their finances to meet their goals and objectives by making sound investments and taking advantage of opportunities.
9. Design Engineer
Design engineers are the brain behind the innovative designs and solutions created in Capital Goods. They evaluate, conduct, and implement solutions that bring about innovation and advanced products. They have an engineering background and are skilled in the workings of computer-aided design and complex problems solving techniques.
10. Research and Development Engineer
Research and Development engineers, as the name depicts, are those set of engineers that experiment with theories and models to become about advancement in their field. Most times, they work closely with the Design Engineers.
11. Production Managers
Production managers coordinate the activities of workers involved in manufacturing operations, such as assembling parts into products or packaging materials for shipment.
12. Quality Assurance Managers
Quality assurance managers work with companies to develop procedures for ensuring that their products meet customer requirements for quality standards before being sold on the market.
How Can I Get a Good Job in Capital Goods?
The best way to get an excellent job in capital Goods with great compensation plans is to have a degree in engineering or computer science and years of experience. You can enter the sector by applying as an intern or entry-level position.
Capital Goods Examples: Top Companies in Capital Goods Field 2022
Below are some of the top companies in Capital Goods where you can build a successful career. They include:
- Boeing
- Lockheed Martin
- Siemens
- BEML
- Honeywell
- Ford Motor Company
- Toyota Motor Corporation
- General Dynamics Corporation
- Deere & Company
- Suzlon Energy
- Caterpillar Inc.
- Thermo Fisher Scientific
- Union Pacific
- United Rentals Inc
- NYSE – GD
Read Also:
- Best Paying Jobs In Finance Consumer Services
- Best Paying Jobs in Industrial Machinery/Components
- Highest Paying Companies In Nigeria
Frequently Asked Questions (FAQs)
Can I advance my career by taking additional courses?
Yes, it’s possible to advance your career by taking additional courses on topics such as production planning or quality control techniques if available through your employer’s Human Resources department or other similar sources like job training programs run by local regions.
What is the role of capital goods in the economy?
Capital goods play a key role in an economy as they allow firms to produce more and better products at a lower cost. They also create jobs for people who manufacture these products and help increase national income and GDP.
What are the qualifications to get a job in Capital Goods?
To get a job in capital goods, you need good communication skills, analytical abilities, and decision-making capabilities. You should also work well under pressure and be flexible enough to work in teams.
What are the main components of Capital Goods?
The main components of capital goods include:
- Machinery and equipment – This includes tools, machines, and hardware necessary for production or manufacturing. It consists of both new and used equipment.
- Software – Software includes computer programs that help companies manage their operations or perform specific tasks within their business environment.
In a Nutshell;
The Capital Goods Sector demands that you are skilled and educated. As such, if you are planning to go into Capital Goods, you can start by taking volunteer jobs in any of the companies or going for internships, and most importantly, have an engineering or computer science background. It is one of the most rewarding and fulfilling sectors to work in.
